WHY IS HYDROGEN IMPORTANT TO THE BANGLADESH NATIONAL ENERGY TRANSITION TOWARD GREEN ENERGY SOURCES

Crucially, hydrogen can replace fossil fuels for all those purposes without emitting carbon dioxide. It is a zero-carbon energy carrier, just like electricity, but it has an edge when it comes to decarbonizing sectors that are hard to electrify—think of heavy industry, long-haul transportation, or seasonal storage.

GREEN HYDROGEN VS FOSSIL FUELS

  • Hydrogen is abundant and its supply is virtually limitless.
  • It can be used where it is produced or transported elsewhere.
  • Unlike batteries that are unable to store large quantities of electricity for extended periods of time, hydrogen can be produced from excess renewable energy and stored in large amounts for a long time.
  • Pound for pound, hydrogen contains almost three times as much energy as fossil fuels, so less of it is needed to do any work.
  • And a particular advantage of green hydrogen is that it can be produced wherever there is water and electricity to generate more electricity or heat.

IS GREEN HYDROGEN PRODUCTION PROFITABLE?

As of today, green Hydrogen is a growing market with still very limited infrastructures, thus Green Hydrogen can be commercially favourable to end users, so profitable for producers, if produced in large scale, by using owned Renewable Energy Plants plants (Solar, Wind, Hydro) and distributed/sold locally (to cut transportation costs).

However, also thanks to Electrolysers Technology improvements , according to Bloomberg New Energy Finance, if these costs continue to fall, green hydrogen could be produced for $0.70 – $1.60 per kg in most parts of the world, a price competitive with natural gas. NEL, the world’s largest producer and manufacturer of electrolyzers, believes that green hydrogen production cost parity (or even superiority) with fossil fuels could be achieved as early as 2025.

BENEFITS AND IMPACTS OF GREEN HYDROGEN TO SOCIETY

Many countries are working on entering hydrogen society because hydrogen will lead them to sustainable growth through its eco-friendliness.

According to Mckinsey, producing hydrogen would reduce 6 gigatons of greenhouse gas by 2050. They also envisioned a market for hydrogen ecosystem with revenues of $2.5 trillion, and jobs for more than 30 million people globally. Hydrogen society will indeed propel the global growth.

Technologies related to storing, transporting, and utilizing hydrogen energy are rapidly growing through a number of researches and investments. This means that the world is shifting its energy paradigm to a greener one, and is gradually getting closer to a green society without needing to worry about pollution.